October 1, 2018
VERO BEACH, FL–The leadership team of Watercrest Senior Living and Titan Development Real Estate Fund I gathered with development, construction and design partners to celebrate the groundbreaking of Watercrest Winter Park Assisted Living and Memory Care in Winter Park, FL. Walker and Company recently commenced construction of the 107-unit, resort-style senior living community and is scheduled to complete the project in late 2019.
Watercrest Winter Park will be a signature Watercrest product offering 75 assisted living and 32 memory care apartments with premium accommodations, exceptional amenities and world-class care. Ideally located at 1501 Glendon Parkway, the community will boast a stunning promenade, pool, fireplace, signature water wall, multiple dining venues, children’s play space, grand balconies and Southern style outdoor living spaces.
Watercrest’s uniquely designed Market Street Plaza, will showcase an ‘outdoor’ streetscape with numerous LifeBUILT programming touches; a highlight and crucial element of their multi-sensory memory care programming.
“Winter Park is iconic in its rich history, architecture and thriving economy,” said Marc Vorkapich, principal and CEO of Watercrest Senior Living Group. “We embraced the opportunity to develop Watercrest Winter Park in this flourishing community in order to offer seniors and their families the exceptional, enriching lifestyle they deserve.”
Watercrest has multiple senior living projects in development throughout the southeast. This is the second senior living development project partnered between Watercrest and Titan Development. Their first project, Watercrest Columbia Assisted Living and Memory Care is currently under construction and on schedule to welcome residents in June 2019.
“We celebrate the development of our premier Watercrest community in the heart of Winter Park,” said Joan Williams, principal and CFO of Watercrest Senior Living Group, “and thank the Titan Development team for their continued trust, partnership and collaboration on this exciting project.”
Titan Development Real Estate Fund I (TDREF I) is a $200 million private equity real estate fund established in 2017 to raise and invest equity in approximately $600 million of Titan Development’s existing pipeline and additional investment opportunities. The team provides fund management, strategic investment, and macroeconomic/market analysis services. This investment adds to TDREF I’s growing senior living portfolio which now includes projects in New Mexico, Florida, and South Carolina.
Watercrest Senior Living Group specializes in the development and operations of assisted living and memory care communities, market repositioning and advisory services. Partnering with a wide variety of stakeholders, Watercrest Senior Living Group focuses on its core strengths, operations management of senior living communities and the development of servant leaders.